Required information [The following information applies to the questions displayed below.] Hafnaoui Company reported pretax net income from continuing operations of $800,000 and taxable income of $500,000. The booktax difference of $300,000 was due to a $200,000 favorable temporary difference relating to depreciation, an unfavorable temporary difference of $80,000 due to an increase in the reserve for bad debts, and a $180,000 favorable permanent difference from the receipt of life insurance proceeds. At the end of the year, the reserve for bad debts had a balance of $100,000; the beginning balance in the account was $20,000. Hafnaoui's beginning book (tax) basis in its fixed assets was $1,000,000($800,000) and its ending book (tax) basis is $1,500,000 ($1,100,000). b. Compute Hafnaoui Company's deferred income tax expense or benefit. Note: Enter all numbers as a positive number and indicate whether a deferred tax expense or a deferred tax benefit